GLOBAL MARKETS: Currency mayhem
US currency accusation has driven an even bigger wedge between the world’s largest economies
08 August 2019 - 05:00
China’s central bank said on Tuesday that Washington’s decision to label Beijing as a currency manipulator would "severely damage international financial order and cause chaos in financial markets". The US currency accusation, which followed a sharp slide in the yuan to beyond ¥7/$, has driven an even bigger wedge between the world’s largest economies and crushed any lingering hopes for a quick resolution to their year-long trade war.
Reuters..
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